Kaynaklarına Göre Enerji Tüketiminin Ekonomik Büyümeye Etkileri

Abstract

In this study energy consumption and economic growth relationship was examined not only for consumption of total energy but also for consumption of different energy resources. The energy resources chosen areprimary resources. The countries examined have beenusedthese energy resources for a long time span. For this purpose United States of America, England, France, Canada and Japan were chosen. First, series tested for unit root by ADF and PP unit root tests. Then cointegration tests were employed to analyse whether there is a long term relationship between series. According to cointegration test results VAR or VEC model wasset up. Granger causality test was used to determine causality between energy consumption and economic growth. The last stage of analysis includesimpulse-response and varinace decomposition. When consumption of anenergy resource was used, total of other energy resources consumption was used in the model. Thus, it is attempted to avoid omitted variable bias. Depending on this contribution, it can be asserted that this study is original in literature. Some policy suggestions were made for countries according to results obtained from the analysis.